Siemens, Ghana sign €250m electricity deal

Siemens has signed a memorandum of understanding with the Republic of Ghana to upgrade the nation’s electricity grid using €250m of financing from Germany.

The MoU was signed by Siemens and the Ghana Grid Company Limited in the presence of the President of the Republic of Ghana, Nana Akufo-Addo, and the President and Global Chief Executive Officer of Siemens AG, Joe Kaeser, according to a statement.

Under the agreement, the two companies will work collaboratively to upgrade and extend Ghana’s transmission infrastructure, improve the country’s grid capacity and stability, enable and expand a stable power export to neighbouring countries in the West African Power Pool.

Kaeser said, “Access to electricity is an imperative need for the people and business and, thus, for economic success of any economy. As Ghana has significantly invested in generation capacity, there is now an urgent need to build a reliable, affordable and sustainable electrical network for the country and its people.

“With our proven and unique end-to-end electrification solutions, our expertise and reliability, Siemens can be a technology partner and help the country achieve its objectives.”

Ghana’s President has set out to achieve an ambitious strategy to transform the country, both socially and economically, driving its progress to becoming a sustainably industrialised country, according to the statement.

“We applaud Ghana for all its achievements under the leadership of President Nana Akufo-Addo. We are eager to contribute to Ghana’s successes by creating local value and being a powerful and reliable regional partner to the country’s socio-economic development goals,” Kaeser said.

According to the statement, to support Ghana’s increasing need to reform the national technical and vocational education and training system, Siemens will also educate and train young Ghanaians in various engineering disciplines and provide training on Siemens equipment for STEM education and TVET.

Kaeser said Siemens was pleased to be entering this partnership and contributing to the growth and development of Ghana.

“Improving the energy sector in Ghana is now one of the key priorities for Siemens; therefore the implementation of this MoU will help leapfrog the country and its people towards its industrial and societal development goals,” he added.


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